Bitcoin flows were dominated by institutional investors this year and this should continue with the cryptocurrency potentially hitting $200,000 by end-2025 after topping $100,000 overnight, Standard Chartered's Geoff Kendrick said in a note. Institutions bought 683,000 bitcoins year-to-date via U.S. spot exchange-traded funds and large purchases by software group MicroStrategy with 245,000 of these inflows occurring after the U.S. presidential election, he said. MicroStrategy is running ahead of its three-year purchase plan.

Continue reading